Paterson To Address Plans To Reduce State Spending
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- May
- 28
Gov. David Paterson sounded the fiscal alarm today, saying the state is likely to have to take some â€Å“drastic actions’’ later this year to close a budget gap caused largely by a big dropoff in Wall Street revenues, GNS Bureau Chief Jay Gallagher writes today.
“Time is not on our side here,” Paterson said in an interview on Talk-1300 AM in Albany.
Paterson will address recommendations made by state agencies to cut spending today at a news conference at 2:30 p.m. The event can be watched live here.
When asked if he will call a special session of the Legislature later this year to try to deal with financial problems, he said, “I would anticipate one.”
His comments were among his most pessimistic yet as the state struggles to balance its budget.
Paterson has been talking about needs for cuts almost since the day he agreed on a new state budget last month that increases overall spending by about 5 percent.
This entry was posted
on Wednesday, May 28th, 2008 at 1:35 pm by Joseph Spector.
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The last sentence of this little article says it all. Well-meaning perhaps, but he is in over his head and has no clue. By the time the sharpies get through with him, he’ll either agree to their spiraling insanity or check into a rest home.